How Nigeria lost its textile market to Chinese imports
Nigeria’s textile production was once a vibrant, booming sector and a key part of its economy. But the industry has since been brought to its knees by cheap imports from China. Is there a chance of recovery? How Nigeria lost…
Lagos drivers reveal the most profitable ride-hailing apps
When Uber launched in Lagos in 2014, drivers like Kayode Olaniyan made as much as ₦300,000 a week. Today, the story is different. Ride-hailing has become a survivalist hustle, with drivers juggling multiple platforms to maximize earnings amid rising fuel…
BREAKING: Again, Dangote Reduces Petrol Price
Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly referred to as petrol, by N65.00, from N890 to N825 per litre, effective from 27th February 2025. The price adjustment, according to…
GTBank Removes All POS Processing Fees To Support Businesses In Nigeria
For more information, merchants are encouraged to contact their Relationship Managers or reach out to the Digital Banking Support Team at poshelpdesk@gtbank.com. GTBank has removed all POS Processing Fees to support businesses in Nigeria. Studiocb55news reports that Guaranty Trust Bank…
CBN shifts MPC meeting to February 19, 20
The Central Bank of Nigeria has rescheduled the 299th Monetary Policy Committee meeting earlier slated for February 17 and 18, 2025. In a statement on Monday, the apex bank said the meeting will now be held on February 19 and…
Why I diversified into oil, gas, power, others, by Elumelu
Chairman, United Bank for Africa (UBA) Group Tony Elumelu has disclosed why he diversified from banking sector to oil & gas, power, healthcare, technology among other sectors of the economy. Speaking at the Legacy Builders Palm Beach Conference held in…
Landlords demand 60 years lease payment from Heritage Energy
The oil families and landlords of Oil Mining Lease, OML 30, operated by Heritage Energy Operational Services Ltd, have demanded immediate payment of over 60 years lease owed by the company without further delay. Rising from a meeting attended by…
Only 100,000 POS operators registered — CAC
The Registrar General of the Corporate Affairs Commission, Hussaini Ishaq Magaji, has disclosed that only 100,000 Point of Sales operators have officially registered their businesses with the commission under its POS formalisation project. According to the Nigeria Inter-Bank Settlement System,…
Turkey May Invest “Billions” in Libyan Offshore Oil
Turkish Petroleum is ready to invest billions in developing offshore oil fields in Libya, the director general of the state-owned company said this week. Speaking at the Libya Energy and Economic Summit in Tripoli, Ahmet Turkoglu said, as quoted by…
Why It’s Never Too Late To Start A Business
When it comes to chasing your dreams and starting a business, age is just a number. Many feel that entrepreneurship is a young person’s game, but the entrepreneurial landscape is changing. You will see more and more people starting a…